$BTC Crypto Scholar: 3.23 Bitcoin Weak Rebound Shows Luring Bulls Signal, 68300 Bottom-Testing Phase Trading Strategy Selection! Latest Market Analysis

Bitcoin is currently trading at 68300. Whether the BTC action these past few days results in profits or losses hinges on a single decision. From warning against buying above 71000 to the continued decline near 68300 now, those following the rhythm have already locked in profits, while those who ignored the advice continue getting shaken out by the market. Trading is never about gambling on luck—it's about controlling risk first and then discussing profits. This lesson must be engraved in your mind.

From the daily Bitcoin candle that closed bearish with volume at the 74000 level, currently near 68300 in continued decline at higher levels forming a bearish engulfing pattern. Breaking through the 74000 key support represents continued trend after breakdown. The price has broken below the Bollinger Band midline at 70217, MACD red histogram flipped to green with continued volume expansion, RSI has fallen below 45 from its peak, indicating bull momentum is completely exhausted and bears are dominating the market. The 74000 to 76000 range has shifted from support to strong resistance, lower strong support sits at 68000 to 68500, upper pressure near-term at 70000 to 71000.

The 4-hour weakness is evident. After topping at 75998, it has continued declining and is currently trading around 68300. EMA lines form a bearish arrangement with price firmly capped below the midline at 69801. Any rebound is a bull trap. MACD green histogram continues volume expansion, RSI has fallen to around 38, indicating short-term bear momentum is still releasing. The bearish downtrend is clear. Upper resistance at 70000 to 71000, lower support at 68000 to 68500. Breaking this support will further test 67000—these need close attention.

Short-term trading reference: Align with larger timeframe trends, small stops for quick entries and exits.

Below 68000 to 68500 accumulate going long, stop loss at 67800, target 69500 to 70000.

Above 70000 to 71000 accumulate going short, stop loss at 71500, target 68500 to 68000. If price breaks 68000, continue targeting 67500 to 67000.

In crypto, the early birds eat the meat, the followers get the broth, and the clueless take the bag.

Prioritize real-time order book data for specific operations. For more information, feel free to consult the author. Articles have publishing delays; this is for reference only. Trade at your own risk. ‌#加密行情震荡